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Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

You are viewing the version of the document as on 2016-10-03.

Status: In this content, we have included all amendments made by EU exit-related instruments up to end September 2020. There will be more amendments to be made later this year, further to the September QCP.

SYSC 19E.1 Application

SYSC 19E.1.1RRP
  1. (1)

    1The UCITS Remuneration Code applies to a UK UCITS management company that:

    1. (a)

      manages a UCITS scheme; or

    2. (b)

      manages an EEA UCITS scheme.

  2. (2)

    This section does not apply to an EEA UCITS management company that manages a UCITS scheme.

  3. (3)

    In this section, a firm under (1)(a) or (1)(b) above, is referred to as a management company.

SYSC 19E.1.2RRP
  1. (1)

    This chapter applies to a UK UCITS management company in relation to remuneration paid, provided or awarded by any person to the extent that it is paid, provided or awarded in connection with employment by a management company.

  2. (2)

    Paragraph (1) is without prejudice to the meaning of remuneration elsewhere in the Handbook.

SYSC 19E.1.3GRP

Remuneration includes payments made by a seconding organisation, which is not subject to the UCITS Remuneration Code, to a secondee in respect of their employment by a management company which is subject to the UCITS Remuneration Code.